In Bravo's case, previous business DOES move to the new schedule for renewals, so you will make up some of the lost income there. Not sure if all plans will handle the same but I imagine they will.
ICEP are the only apps that will pay first year commissions, the rest will pay the renewal rate in 2009. If the enrollee leaves the plan prior to month 4, no commission will be earned and you will be charged back in full. After month 4, the chargebacks will be pro-rated based on CMS's guidance (basically as earned). Existing business will be paid at the new renewal rates but they will be paid as earned.
Last edited by HealthResourceAdvisor : 11-13-2008 at 05:44 PM.
ICEP are the only apps that will pay first year commissions, the rest will pay the renewal rate in 2009. If the enrollee leaves the plan prior to month 4, no commission will be earned and you will be charged back in full. After month 4, the chargebacks will be pro-rated based on CMS's guidance (basically as earned). Existing business will be paid at the new renewal rates but they will be paid as earned.
Not just ICEP for 1st year commissions. It for anyone new to MA.
Yeah, ICEP will pay FYC right away, new to MA will pay renewal and when CMS tells the plan they were new to MA then they will pay you the rest (who knows how long that will take)
yeah, ICEP will pay FYC right away, new to MA will pay renewal and when CMS tells the plan they were new to MA then they will pay you the rest (who knows how long that will take)
That's what I gathered from other sources, too.
My question remains: Are the carriers going to pay us interest on the withheld commission balances? (OK, OK, I know the answer... just bringing up the point!)
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To be truly independent, an agent should not be dependent on a government bureaucrat for contracts or commissions.
My question remains: Are the carriers going to pay us interest on the withheld commission balances? (OK, OK, I know the answer... just bringing up the point!)
Unfortunately we all know the answer, but still a good point!
I read this board alot, but don't post much. I am really confused here. I just got off the phone with the commissions dept of Uhited Healthcare for MA plans (there was a problem with my commissions), the guy said he just received the sheet for commissions for Florida and that they were paying $550.00 per sign up with renews at $225.00.
Question: Isn't this CMS ruling for all companies, not just Humana?? or is Humana back to screwing the agent like before???
I read this board alot, but don't post much. I am really confused here. I just got off the phone with the commissions dept of Uhited Healthcare for MA plans (there was a problem with my commissions), the guy said he just received the sheet for commissions for Florida and that they were paying $550.00 per sign up with renews at $225.00.
Question: Isn't this CMS ruling for all companies, not just Humana?? or is Humana back to screwing the agent like before???
Anyone want to give this guy hope? (Sorry, I just couldn't resist)
But I will give you 3 guesses, and the first 2 won't count!
I read this board alot, but don't post much. I am really confused here. I just got off the phone with the commissions dept of Uhited Healthcare for MA plans (there was a problem with my commissions), the guy said he just received the sheet for commissions for Florida and that they were paying $550.00 per sign up with renews at $225.00.
Question: Isn't this CMS ruling for all companies, not just Humana?? or is Humana back to screwing the agent like before???
If 1st year is at $550, renewals have to be at least $275. The person that gave you that info is doing what everybody else is doing, speculating.
OK, this is Saturday, that means United Healthcare's commission dept is still speculating. When are they going to decide??? In January?? after we started selling??
Question: Isn't this CMS ruling for all companies, not just Humana?? or is Humana back to screwing the agent like before???
Put it this way, Humana is one of the main reasons that CMS is making company cut commissions for independent agents. Humana stated in a letter to the head of the finance committee that captive agents are better for helping beneficiaries choose the right plan for them and that they should cut our commissions.
This is just a short synopsis but I will not write a Humana policy or even talk about their plan unless it is by far the best choice for the client. I just don't see that scenario happening.
Scott
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Originally Posted by hope33709
OK, this is Saturday, that means United Healthcare's commission dept is still speculating. When are they going to decide??? In January?? after we started selling??
Supposed to be by Monday....but really, no one knows for sure.
Last edited by scottfree : 11-15-2008 at 01:46 PM.
Reason: Automerged Doublepost
2009 commissions
Sorry, I just couldn't resist)
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